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1) Devaluation is majorly done to _____.
(a) Encourage export
(b) Encourage import
(c) Discourage import
(d) To encourage both export and import
2) Foreign investment is known by which name in India?
(a) SME (Small and medium-sized enterprises)
(b) MDI (Management Development Institute)
(c) FDI (Foreign Direct Investment)
(d) CII (Confederation of Indian Industry)
3) What is the full form of NNP?
(a) Normal Net Production
(b) Net National Product
(c) Normal National Produce
(d) Net Normal Produce
4) ‘Inclusive Growth’ was the objective of which Five Year Plan?
(a) Tenth
(b) Eleventh
(c) Twelfth
(d) Ninth
5) The Steel plants of Bhilai, Durgapur and Rourkela were established under which Five Year Plan?
(a) Second
(b) Fourth
(c) Fifth
(d) Sixth
6) In a ______ government, the final decision-making power must rest with those elected by the people.
(a) Authoritarian
(b) Autocratic
(c) Monarchic
(d) Democratic
7) Which of the following statement is true about “Community Government”?
I) This government is elected by people belonging to one language community.
II) This government has the power regarding cultural, educational and language related issues.
(a) Both I and II
(b) Only I
(c) Only II
(d) Neither I nor II
8) ______ is a system of government in which the power is divided between a central authority and various constituent units of the country.
(a) Feudalism
(b) Democracy
(c) Federalism
(d) Aristrocracy
9) Under which pardoning power of the President, one form of punishment is substituted by a lighter form?
(a) Commutation
(b) Remission
(c) Respite
(d) Reprieve
10) Concept of Judicial Review in Indian Constitution has been taken from which country?
(a) Ireland
(b) USA
(c) Australia
(d) Canada
Answers :
1) Answer: A
Devaluation is the decision to reduce the value of a currency in a fixed exchange rate. A devaluation means that the value of the currency falls. Domestic residents will find imports and foreign travel more expensive. However domestic exports will benefit from their exports becoming cheaper.
2) Answer: C
FDI is Foreign Direct Investment, it is an investment in a business by an investor from another country for which the foreign investor has control over the company purchased. The Organization of Economic Cooperation and Development (OECD) defines control as owning 10% or more of the business. Foreign Investment in India is commonly known in India by Foreign Direct Investment.
3) Answer: B
Net national product (NNP) refers to gross national product (GNP), i.e. the total market value of all final goods and services produced by the factors of production of a country or other polity during a given time period, minus depreciation.
4) Answer: B
India’s government has made “inclusive growth” a key element of their policy platform, stating as a goal. The agenda for inclusive growth was envisaged in the Eleventh Plan document which intended to achieve not only faster growth but a growth process.
5) Answer: A
The Second Plan was particularly in the development of the public sector and “Rapid Industrialisation”. Bhilai, Durgapur, and Rourkela were established with the help of Russia, Britain (the U.K) and West Germany respectively.
6) Answer: D
A system of government in which power is vested in the people, who rule either directly or through freely elected representatives.
7) Answer: A
Community government is an elected body by people belonging to one language, one culture or any common property no matter where they live. This government has the power regarding cultural, educational and language-related issues.
8) Answer: C
Federalism is a type of government in which the power is divided between the national government and other governmental units. It contrasts with a unitary government, in which a central authority holds the power.
9) Answer: A
Commutation is the president power of changing one punishment with another.
10) Answer: B
The concept of Judicial review is taken from US constitution. Judicial review is the power of the courts of a country to examine the actions of the legislative, executive, and administrative arms of the government and to determine whether such actions are consistent with the constitution.
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